PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST

PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST received a PPP loan of $9,999,954 approved on Apr 28, 2020. The loan was originated by Washington Federal Bank d/b/a WaFd Bank.

PRESBYTERIAN RETIREMENT COMMUNITIES NORTHWEST is a corporation located in BELLEVUE, Washington. At the time of the application, the business was described as "existing or more than 2 years old".

The business operates in the Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly industry (NAICS 623311), part of the Health Care and Social Assistance sector of the economy. The applicant reported 500 jobs as retained through this loan.

The SBA forgave $10,216,620.06 of this loan — 102.2% of the total approved amount, with forgiveness recorded on Jul 8, 2022. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.

According to the SBA's records, the proceeds of this loan were allocated as follows: $9,999,954 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.

This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Washington, visit the Washington page. To compare this loan with others in the same industry, see the Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly industry page.